The leading cryptocurrency, Bitcoin, continues to maintain a price range between $91,000 and $102,000, despite ongoing geopolitical tensions. This consolidation phase has lasted over 81 days, demonstrating price stability even amidst volatility.

Analysts from the cryptocurrency exchange Bitfinex note that the ongoing sideways price movement reflects a weak directional momentum, despite market instability. Bitcoin shows resilience, supported by holders maintaining their positions in an uncertain macroeconomic environment. The lack of significant volatility underscores cautious market sentiment and the absence of a clear direction.

While Bitcoin shows a slight decline on a monthly basis, the altcoin market has suffered more significantly. This indicates a forming divide between Bitcoin and the rest of the cryptocurrency market, suggesting a shift in investor interest towards Bitcoin.

Bitfinex analysts emphasize that altcoins are undergoing complete market cycles, whereas Bitcoin remains more correlated with macroeconomic factors, demonstrating maturity as a risk asset.

Despite the relative stability of Bitcoin's price over the past seven days, realized losses recorded by investors are among the largest in the current bullish cycle, indicating selling pressure. Additionally, the Inter-Exchange Flow Pulse (IFP) metric, which tracks Bitcoin movements between spot and derivative exchanges, has signaled a bearish trend for the first time since June 2024. This may suggest a potential decline in market sentiment and the onset of a bearish phase.

However, Bitfinex analysts caution that this signal may be false, as the IFP value still exceeds its 90-day moving average.

Overall, despite the current consolidation phase and potential bearish signals, Bitcoin continues to demonstrate resilience amid geopolitical and macroeconomic uncertainties.

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